RIYADH, October 8, 2007 -- The Saudi Electricity Company (SEC) has named Baker Botts L.L.P., in association with the law firm of Mohanned Bin Saud Al-Rasheed, as legal adviser on all aspects of the development of two independent power plants to be built in Saudi Arabia that will add more than 3000 megawatts to the country’s power grids when completed.
The projects are planned for Rabigh and Riyadh with Rabigh scheduled for commercial operation in 2012 and Riyadh in 2013. The plants are to be built on a Build-Own-Operate (BOO) basis with the SEC as sole offtaker.
“SEC is responsible for meeting the rapidly increasing demands for power created by the explosion of growth in Saudi Arabia’s industry, petrochemicals and infrastructure,” said Nigel Thompson the Baker Botts partner based in Dubai who will lead the team on the projects. “With our experience and long standing presence in the Region and Riyadh in particular, headed by Special Counsel Babul Parikh, Baker Botts has the skills and expertise necessary to assist SEC to meet this challenge.”
In addition to Baker Botts acting as legal adviser, Citi has been named financial adviser and the Fichtner Group technical adviser on the projects.
This landmark appointment serves to emphasize Baker Botts’ recent growth in the region. Earlier this month, David Emmons was named partner in charge of the firm’s Middle East offices in Dubai and Riyadh. His appointment followed the hiring earlier this year of Nigel Thompson and Sean Korney as partners in the firm’s Dubai office, all three joining incumbent partner Stephen Matthews.
About Baker Botts in the Middle East
Through its Dubai and Riyadh offices, Baker Botts offers great depth of experience and knowledge in the Middle East and broad-based expertise in energy-related project development and finance. The firm represents clients in the region not only in the energy industry but also in the telecommunications, manufacturing, transportation, construction, and banking industries, among others. The firm’s practice also encompasses transactional work, including entity formation and structuring, contract negotiation, and banking and finance, as well as litigation and arbitration matters internationally. Baker Botts’ energy-related project development and finance work is enhanced by the firm’s experience with the complex issues faced in financing these projects under local law, which is largely founded on the shari’a or Islamic law.